In response to a CFTC request for comments, NFA, FIA and ISDA addressed potential conflicts of interest and other issues related to affiliations between clearing and trading platforms and market intermediaries.
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The Managed Funds Association criticized an FSOC proposal that would eliminate “key aspects” of current interpretive guidance on the process for designating nonbank financial institutions for heightened Federal Reserve Board supervision.
FIA supported IOSCO’s recommendations to member jurisdictions on regulating crypto-asset activities under the fundamental principle “same business, same risks, same rules.”
SIFMA recommended that Congress craft legislation on regulating digital assets that (i) prioritizes investor protections, (ii) applies a technology-neutral approach and (iii) follows the "same activity, same risk, same regulatory outcome" principle.
In extensive comments, the GFMA, FIA, the Institute of International Finance, ISDA, the Bank Policy Institute, the International Capital Markets Association and the Financial Services Forum expressed support for the Basel Committee on Banking Supervision design of a prudential framework for the treatment of cryptoasset exposures.